Inditex staff in Spain say they are being forced out as the owner of fast-fashion brand Zara rolls out its plan to shut up to 1,200 stores worldwide, despite a company agreement with Spanish unions to project jobs.
Uniqlo owner Fast Retailing has hit a milestone in its global ambitions with its value as defined by its share price reaching ¥10.87trn (€85bn) this week, more than any other company in the global clothing sector.
The revenue of top fashion multinationals plummeted by 21.8% in the first nine months of 2020 because of the pandemic, according to a study published on Wednesday by Italian investment bank Mediobanca.
A major signal of what’s likely to happen more widely in UK retail in the next few years came on Wednesday as property giant Hammerson announced a major build-to-rent scheme for Leicester following the Debenhams exit.
The 2020 report by Paris-based association Climate Chance has described the global textile and apparel industry’s efforts to deal with the challenges of sustainable development as both fragmentary and insufficient.